Rabobank supports red meat sector collaboration program

Agricultural banking specialist Rabobank has
welcomed the newly-announced red meat sector collaboration
between industry and government to enhance the long-term
profitability of New Zealand’s beef and lamb industries.

Rabobank New Zealand CEO Ben Russell said the bank was
pleased to confirm its support as a participant in the
proposed program. Rabobank notes the program is reliant on
the forthcoming vote by farmers on Beef and Lamb New
Zealand’s contribution.

The New Zealand Red Meat Sector
Primary Growth Partnership (PGP) Collaboration for
Sustainable Growth Program for the beef and lamb industries
is a commitment by government, Beef and Lamb New Zealand and
a range of industry participants in the long-term
enhancement of sector profitability and sustainability.

The $65 million sector development program, which is
being co-funded by the New Zealand government, will run for
seven years.

“Rabobank is very pleased to play its part
in this very important initiative for New Zealand
agriculture,” Mr Russell said. “The meat sector will
only grow in the long term if farmers are profitable and
competitive in the tough environment of the global animal
protein sector. While good seasons and high prices are
obviously important, so too is the adoption of new
technology and the continued development of skills and
capability across the industry.”

Mr Russell said
Rabobank’s support of the planned Red Meat PGP
Collaboration aligned well with the bank’s food and
agribusiness focus and its cooperative and sustainable
values.

“The program will complement other Rabobank
initiatives designed to develop and promote excellence in
the agricultural sector. These include our Food &
Agribusiness Research and Advisory unit, as well as the
bank’s Executive Development Program and Farm Management
Program educational courses for farmers and our succession
planning services,” he said.

Mr Russell said it was
pleasing to see collaboration between government, industry
bodies and individual commercial enterprises in the
long-term competitiveness of New Zealand’s red meat
sector.

“Farmer involvement throughout the development
and implementation of the program will be important to its
long-term success,” he said.

Media Release
February 1, 2013

2

Rabobank New
Zealand is a part of the international Rabobank Group, the
world’s leading specialist in food and agribusiness
banking. Rabobank has more than 110 years’ experience
providing customised banking and finance solutions to
businesses involved in all aspects of food and agribusiness.
Rabobank is structured as a cooperative and operates in 47
countries, servicing the needs of approximately 10 million
clients worldwide through a network of more than 1600
offices and branches. Rabobank New Zealand is one of the
country's leading rural lenders and a significant provider
of business and corporate banking and financial services to
the New Zealand food and agribusiness sector. The bank has
32 branches throughout New Zealand.
ends

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